I'm supporting a family member, aka B. He is 58 years old & employed full time in retail!
He has medical, mortgage, equity loan & credit card debt, but he's not earning enough to cover those debts!
He is facing new major medical issues now & he can't go back to work until he has recovered.
That means no income to pay bills for a month or so, including his medical insurance premiums & copays & out of pocket max!
I only have a few ideas how best to help guide him & he feels great anxiety over his seemingly hopeless situation!
He currently has a little retirement savings, (not enough), & some company stocks he was planning to add in with retirement, but I think he will have to pay penalties if he cashes out either one to live on or to pay a portion of his debt off.
Is there someone or some kind of agency we can turn to in order to get support & specific advice for his situation?
Someone to help us review his few assets, debts, employment, and issues like paying medical insurance coverage while he has no income?
How should he proceed financially if he can't return to work for a few months or ever? I am overwhelmed & so is B!
How do we find the right guidance for his situation?
Submitted June 29, 2018 at 06:54PM by Lillywilly2 https://ift.tt/2yWq9KX
